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TAX CREDIT FOR QUALIFIED PAID SICK LEAVE AND FAMILY LEAVE WAGES DURING COVID-19

On: November 4, 2020

To address the COVID-19 crisis, the Families First Coronavirus Response Act (the “FFCRA”) was approved by Congress and then signed into law on March 18, 2020 by President Trump. The FFCRA includes the Emergency Paid Sick Leave Act and the Emergency Family and Medical Leave Expansion Act, which require that certain employers provide certain employees […]

WHAT TO DO IF YOU CANNOT PAY YOUR EMPLOYMENT TAXES BECAUSE COVID-19 HAS ADVERSELY AFFECTED YOUR BUSINESS

On: October 28, 2020

The mandatory closings and other restrictions imposed by governments from COVID-19 have adversely affected many businesses.  One such adverse effect is that businesses may be unable to pay their employment taxes. What can businesses do if they cannot pay their employment taxes because of COVID-19? The passage by Congress of the Coronavirus Aid, Relief, and […]

WHAT TO DO IF YOU CANNOT ACCESS NECESSARY DOCUMENTS FOR A TAX AUDIT OF YOUR BUSINESS BECAUSE OF COVID-19

On: October 21, 2020

It is a huge burden at any time for a business to be subject to a tax audit.  This burden is only increased during COVID-19 when even routine tasks can become arduous, and in some cases, based on government restrictions, even impossible, for businesses to complete. What should a business do if it cannot access […]

IMPORTANT COVID-19 TAX LEGISLATION AFFECTING INDIVIDUAL TAXPAYERS

On: October 14, 2020

In response to the adverse economic consequences caused by COVID-19, Congress and President Trump have agreed on legislation helping taxpayers. One such legislation, signed into law on March 27, 2020, is the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). What important tax provisions in the CARES Act affect individual taxpayers? Stimulus Checks […]

WHAT TO DO TO SETTLE STATE TAX LIABILITIES DURING COVID-19

On: October 7, 2020

It is never an easy situation when you cannot pay outstanding tax liabilities.  This problem has become even more significant for many taxpayers because of the adverse economic consequences caused by COVID-19. The need to settle outstanding tax liabilities can apply to state tax liabilities, as well as Federal tax liabilities. What actions can taxpayers […]

HOW TO RESPOND TO STATE TAX CONTROVERSY MATTERS DURING COVID-19

On: September 30, 2020

When you have a dispute with your state over an amount of state tax liability that you owe, it is known as a state tax controversy matter.  State tax controversy matters in each state are subject to specific procedures. In many states, these procedures for state tax controversy matters have been revised because of COVID-19. […]

NET OPERATING LOSS PROVISIONS IN COVID-19 TAX LEGISLATION

On: September 23, 2020

To help taxpayers with the negative economic consequences caused by COVID-19, Congress and President Trump have agreed on certain tax legislation, including the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), signed into law on March 27, 2020. Net operating loss provisions can enable businesses to better utilize losses for tax purposes, by […]

EMPLOYEE RETENTION TAX CREDITS DURING COVID-19

On: September 16, 2020

In response to the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was approved by Congress and then signed into law on March 27, 2020 by President Trump.  The CARES Act offers various tax benefits to business taxpayers to help them better respond to the adverse economic impact caused by […]

HOW TO RESPOND TO TAX CONTROVERSY MATTERS DURING COVID-19

On: September 9, 2020

It is never an easy situation when the Internal Revenue Service contends you owe a tax liability, but you believe that there is nothing due.  Such tax controversy matters are generally governed by specific procedures. As is the case for many issues, because of COVID-19, there are currently many revised procedures to respond to tax […]

WHAT TO DO IF YOU ARE RECEIVING COLLECTION NOTICES FROM THE IRS, BUT CANNOT PAY YOUR FEDERAL TAX LIABILITIES BECAUSE OF COVID-19

On: September 3, 2020

One of the worst feelings when opening your mail is to receive an Internal Revenue Service collection notice. The pressure in responding to an IRS collection notice has only increased for many taxpayers because of the adverse economic conditions caused by COVID-19. What should you do if you are receiving collection notices from the IRS, […]